Allied Market Research

Asia-Pacific Fitness Equipment Market to See a Massive Financial Boost in the Forecast Period

The market of home fitness equipment is also witnessing gradual growth since the past few years. The aging population across developed countries such as Japan and South Korea prefer exercising at home. The equipment used in homes are most commonly designed and used for cardiovascular exercises.

Portland, OR -- (SBWIRE) -- 09/29/2017 -- Asia-Pacific Fitness Equipment Market is expected to garner $2.4 billion by 2020, registering a CAGR of 7.5% during the forecast period 2015-2020. Rapidly growing youth population with rising disposable income and the growing awareness about health and fitness, would drive the growth in Asian countries such as China and India. By 2020, the adoption of fitness equipment by health clubs would contribute about 47% of the Asia-Pacific fitness equipment market revenue. Among the different types of fitness machines, cardiovascular fitness equipment would dominate the market throughout the analysis period.

As a result of unhealthy eating habits and hectic lifestyle, the count of obese or overweight population is on rise in Asian countries. In order to overcome the problems associated with obesity, people are preferring physical workouts. The cardiovascular equipment market is benefited due to the increased preference of weight management exercises. As a result, the market of cardiovascular exercise equipment continues to be a significant contributor, accounting for over half of the total revenue of the Asia-Pacific fitness equipment market, throughout the analysis period.

Fitness equipment are primarily used for body weight management. However, few users of fitness equipment need it for exercises related to medical treatments or for strength training purposes. Such varied applications of fitness equipment are driving the market.

Key findings of the study:

-The Asia-Pacific fitness equipment market would grow at a steady rate during the forecast period owing to the increasing demand by obese population and rising health and fitness awareness

-India would witness the highest growth, followed by China. The fitness equipment market in India would grow at a CAGR of 8.8% during 2015 - 2020

-The cardiovascular equipment segment would drive the market throughout the analysis period with around 50% of contribution to market size by value

-The adoption of fitness equipment by commercial customers such as hotels, hospitals, and enterprises would grow at a CAGR of 9.0% during the forecast period

-Health clubs would continue to dominate the user segment accounting for over 40% of the market share throughout the analysis period